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Education firm Veranda Learning Solutions on Monday informed that it has acquired and invested across seven businesses to “gain a deeper footprint in education space”. The entities that Veranda Learning has either acquired or invested in are Educare Infrastructure, Six Phrase, Smart Bridge, Talent Academy, Talent Publications, Phire Learning, and BAssure. “The total valuation of these acquisitions is over Rs 400 crore,” the firm said in an exchange filing.
Founded in 2018 by the Kalpathi AGS Group, Veranda Learning Solutions is a publicly listed education technology company that offers a bouquet of training programs for competitive exam preparation, including state public service commission, banking, insurance, railways, IAS, and CA.
The company said that these acquisitions would deliver an EBITDA of Rs 50 crore for FY 23-24. These associations will take the proforma EBITDA for Veranda Learning to over Rs 100 crore for FY 23-24.
“Acquiring Educare Infra would help Veranda expand its access to the K-12 school and college education segment,” the company said, adding that with its expertise in learning management systems through Veranda Labs and synergies from existing Veranda business, it can scale its operations to providing management services for multiple schools.
Veranda Learning’s Executive Director cum Chairman Suresh Kalpathi said that the journey of any student begins in the K-12 space and “we believe it is an important part of the ecosystem we operate in and associations like Educare will help us build in that direction”.
The Chennai-headquartered firm said that the integration of Talent and Phire brands will be a big boost for Veranda RACE business which currently trains students for banking and government exams. Talent Academy and Publication, a well-known regional brand in Kerala would enable Veranda Race to attain a leadership position in PSC, SSC, and other related test-prep segments in Kerala, the firm said.
On its association with Six Phrase, Veranda Learning said this partnership would give the company access to the deep and wide-spread clientele network of the Coimbatore-based firm, spanning over 300 colleges. Founded in 2019, Six Phrase is engaged in employability training, skill development, and career guidance services through tie-ups in leading educational institutions across 9 states.
Veranda Learning CFO Saradha Govindarajan said these associations will add value for the students across age groups. “Veranda is committed to building a company of repute that caters to the entire value chain in the education space. We would like to be part of students’ journey from schools, to test prep & colleges till the upskilling stage.”
BAssure, a software company, will be Veranda Learning’s arm to provide skilled IT manpower to the tech companies worldwide and thereby ensuring that the companies focus on their core competency while leaving the skilling to Veranda, the company said.
“Each of these partnerships is strategic in nature,” said Veranda Learning chairman Kalpathi. “I am very hopeful that this move will bolster our efforts in remaining the preferred choice across all categories of education.”
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